Sunday, February 22, 2009

The Dow Jones Industrial Average (^DJI) correction that began on October 9, 2007 is now the second worst since 1900 and only behind the correction that began in 1929. According to Chart of the Day:

The Dow put in its record high of 14,164.53 back on October 9, 2007. [On February 19, 2009],the Dow closed at 7,465.95 – down 47.3% from its peak made 499 calendar days ago. For some perspective on the magnitude of the current bear market, today's chart compares the current, 499 calendar day old Dow correction to that of all other Dow corrections, 499 calendar days after their respective peak (and that were still ongoing).

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